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Home Economy

Technology helped Indian firms compete in global markets

Fiinews by Fiinews
April 13, 2021
in Economy, Exports, Technology
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“DGFT Trade Facilitation App” launched

Progress in technology has helped strengthen Indian firms in the competitive global markets, said Commerce & Industry Minister Piyush Goyal at the launch of “DGFT Trade Facilitation App” for providing quick access to information to importers and exporters who are being encouraged to aim for US$1 trillion worth of exports by 2025.

Goyal also called for “engagement with technology and language specialists to develop Governance Apps in various regional languages, which will support the spirit of oneness amongst our citizens”.

“We desire to move towards paperless, automated processing systems, simple procedures for trade players, online data exchange between departments & digital payments & acknowledgements.

”Speaking at the App’s online video conference launch on 12 April 2021, Goyal said, “Very often, the simple trade-related process becomes cumbersome, and when they are available with a touch of a button, like with a mobile app, we will ensure the Ease of doing business and the speedy growth in international trade.”

In the post-COVID world, tech-enabled governance will play a key role in determining India’s growth and competitiveness, he added.

A single-window approach has enabled tech transformation of service delivery in India. It has liberated last-mile beneficiary from location based constraints, and enhanced ease of doing business, he said.

Lauding the initiative of Director General of Foreign Trade (DGFT), Goyal said that the new Trade Facilitation App is a step in the right direction as it provides easy, omni-channel access to various trade related processes and enquiries at the touch of button.

The Trade facilitation App is READY for Industry 4.0, as it provides:

Real-time trade policy updates, notifications, application status alert, tracking help requests

Explore item-wise Export-Import policy & statistics,Track IEC Portfolio

AI-based 24×7 assistance for trade queries

DGFT services made accessible to all

Your Trade Dashboard accessible anytime and anywhere.

The Minister said that ‘Mobile’ India creates an international trade opportunities for MSMEs and Foreign players. It will enable creation of a quality conscious and cost-competitive domestic industry.

He said that for advanced App development, more inputs and ideas of all stakeholders should be invited for further refinement which will help in expediting our technological transformation. #technology #Apps #exports #economy #markets /fiinews.com

Tags: Ministry of Commerce and Industry
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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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